Ather Energy Limited:
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About the Company |
Incorporated in 2013, Ather Energy is an Indian electric two-wheeler (E2W) company engaged in the design, development, and in-house assembly of electric scooters, battery packs, charging infrastructure, and supporting software systems. It sold 109,577 E2Ws in the FY 2024. It also operates 280 experience centres and 238 service centres across India, Nepal, and Sri Lanka, supported by a manufacturing facility in Tamil Nadu with a 420,000 vehicle and 379,800 battery pack annual capacity. The firm reported a revenue of Rs 1617.40 crore for the nine months ended on 31 December 2024. |
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Funds Utilization |
The proceeds will be used for setting up a new E2W factory in Maharashtra, debt repayment, R&D, marketing initiatives, and general corporate purposes. |
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Selling Shareholders |
The company’s existing investors National Investment and Infrastructure Fund II, Internet Fund III Pte. Ltd., IITM Incubation Cell, IITMS Rural Technology and Business Incubator, as well as promoters Tarun Sanjay Mehta and Swapnil Babanlal Jain, sold part of their stakes in the public offering. |
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IPO Performance |
The Rs. 2,981 Crore IPO comprised of fresh issue of Rs. 2,626 Crore and an offer for sale for Rs. 355 Crore. The issue was subscribed over 1.43 times, with retail investors subscribing the most at 1.78 times to the issue. Shares of Ather Energy Limited made a modest debut on the bourses on 2nd May, and got listed at Rs 328 on NSE and Rs.326 on BSE, i.e. a premium of 2.18% and 1.57% over the issue price of Rs 321. |
Funds Mobilization by Corporates (Rs. In Crore)
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Particulars |
Mar-25 |
Apr-25 |
|
I. Equity Issues |
13,690 |
49,598 |
|
a. IPOs (i+ii) |
531 |
255 |
|
i. Main Board |
0 |
0 |
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ii. SME Platform |
531 |
255 |
|
b. FPOs |
0 |
0 |
|
c. Equity Rights Issues |
1,508 |
180 |
|
d. QIPs/IPPs |
5,368 |
5,994 |
|
e. Preferential Allotments |
6,283 |
43,169 |
|
II. Debt Issues |
1,17,508 |
92,708 |
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a. Debt Public Issues |
237 |
1,297 |
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b. Private Placement of Debt |
1,17,271 |
91,411 |
|
III. REITs/ InvITs |
8,740 |
0 |
|
a. REITs |
0 |
0 |
|
b. InvITs |
8,740 |
0 |
|
Total Funds Mobilized (I+II+III) |
1,39,938 |
1,42,306 |
Acknowledgements:
RBI Bulletin (www.bulletin.rbi.org.in), SEBI (www.sebi.gov.in), NSE (www.nseindia.com), BSE (www.bseindia.com)
Disclaimer:
This material has been prepared by the personnel in Vora Corporate Finance which is Investment Banking arm of Vora Management Consultancy Private Limited and looks after Mergers & Acquisitions (M&A), Private Equity (PE), Fund Raising, Debt syndication and Valuations and is based out of Ahmedabad, Gujarat, India. Any views or opinions expressed herein are solely that of individual authors and may differ from view of Vora Management Consultancy Private Limited. This material is proprietary to Vora Management Consultancy Private Limited and is for your personal use only. Any distribution, copy, reprints or forward to others is strictly prohibited.
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